HomeMy Public PortalAboutR0410 R E S O L U T I O N NO. 410
A RESOLUTION to accept bid for Three Million Two
Hundred Fifty Thousand Dollars ($3,250,000) of General Obligation
Sewer Bonds of Gravois Creek Trunk Subdistrict of The Metropolitan
St. Louis Sewer District.
WHEREAS, the bid and offer of Halsey, Stuart and
Company, Inc. and Associates for the purchase of Three Million Two
Hundred Fifty Thousand Dollars ($3,250,000) of General Obligation
Sewer Bonds of Gravois Creek Trunk Subdistrict of The Metropolitan
St. Louis Sewer District, bearing interest as follows:
Maturities Rates of Interest 1962 through 1966 5% 1967 3.5% 1968 through 1971 3% 1972 through 1976 3.5% 1977 through 1981 3.6%
at and for the price and sum of Three Million Two Hundred Fifty
Thousand Dollars ($3,250,000) and accrued interest to date of
delivery, and at a net interest cost of One Million Three Hundred
seventeen Thousand Nine Hundred Eight Dollars and Thirty-two Cents
($1,317,908.32), is the highest and best bid made and offered for
said bonds;
NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees
of The Metropolitan St. Louis Sewer District that the Three
Million Two Hundred Fifty Thousand Dollars ($3,250,000) par value
of General Obligation Sewer Bonds of Gravois Creek Trunk
Subdistrict of The Metropolitan St. Louis Sewer District,
authorized at a special election held in said Subdistrict on
August 30, 1960, bearing interest as follows:
Maturities Interest Rates 1962 through 1966 5% 1967 3.5% 1968 through 1971 3% 1972 through 1976 3.5% 1977 through 1981 3.6%
shall be and the said bonds are hereby awarded and sold to Halsey,
Stuart and Company, Inc., and Associates at and for the price and
sum of Three Million Two Hundred Fifty Thousand Dollars
($3,250,000) and accrued interest to date of delivery
of said bonds, and at a net interest cost of One Million Three
Hundred Seventeen Thousand Nine Hundred Eight Dollars and Thirty-
two Cents ($1,317,908.32), all in accordance with the terms of
sale as set forth and contained in the notice of the sale of said
bonds and in the proposal submitted by said Halsey, Stuart and
Company, Inc., and Associates.
BE IT FURTHER RESOLVED that the check of the
unsuccessful bidders for said bonds shall forthwith be returned to
them upon their receipt therefor, and that the check of the
successful bidders shall be held uncashed by the Secretary-
Treasurer pending delivery of the said bonds in accordance with
the terms of sale. The foregoing Resolution was adopted June 15, 1961.
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